Knoll urges innovative ideas for RGF

Member for Schubert Stephan Knoll is encouraging local organisations to create and collaborate as the State Government’s Regional Growth Fund first competitive round opens in July.

“The South Australian Government recognises that our regions are fundamental to the success of South Australia’s economy,” he said.

“Enabling business growth and development across the state means we have moved away from individual business grant towards a more all-encompassing approach.

“Through the Regional Growth Fund, broader economic benefits will be delivered for communities and multiple entities which may not be directly involved in these projects.

“The Barossa is brimming with innovative and forward thinking people and I know there will be some great ideas out there!”

Across 10 years, the RGF will deliver $150 million to support projects that unlock new economic activity in our regions, creating jobs, growing export opportunities and strengthening regional communities.

The RGF consists of two components a year: a $5 million competitive pool available through a single competitive round, and a $10 million strategic pool available for strategic projects that meet the key principles of the fund.

This component of the fund will be open for public applications all year round and be allocated to strategic projects that leverage additional funding sources.

Funding is available from $50,000 up to $2 million on a matched dollar for dollar basis.

Organisations which are eligible to apply for the grants include local government bodies, incorporated associations and business clusters.

Projects will be selected on:

new economic activity that would not occur otherwise

sustainable without further government intervention after the funding is provided

creating broader economic benefits for the community and multiple entities

contributing to the scale of an industry or sector

a connection to, and vested interest, in a specific regional community

sustainable economic benefits to the state or region

reducing the cost of doing business.

Preference will be given to projects that commence within three months of approval, with the funds fully acquitted within 24 months of commencement.

Applications for the 2018-19 competitive round open on July 2 and close on August 31.

Initial assessment of applications will be completed by the end of October, with the assessment panel recommendations presented to the Minister for Primary Industries and Regional Development in mid November.